AP General Motors has entered into a tentative deal to sell its Hummer division, and though it hasn’t announced the buyer, the sale brought back memories. Back in the early 1990s, I was covering the defense industry for the Dallas Times Herald, and one of the area’s biggest defense contractors was LTV Corp., which made […]
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AP Last week, I made the point that big GM bondholders may be banking on a bailout of their own through credit-default swaps on the automaker’s bonds. A reader had suggested that some bondholders had probably bought CDSs to cover potential losses should GM default. The biggest underwriter of CDSs is AIG, which has received […]
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And the winners are … Cisco Systems and Travelers. Dow Jones announced this morning, just after General Motors filed for bankruptcy, that it was removing the auto maker from Dow Jones Industrial Index as expected. It also decided to dump Citigroup, which had been speculated last week. Citi got axed because of its sorry financial […]
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Oil climbs to near $68, new high for the year Later today: GM as biggest U.S. industrial bankruptcy – meanwhile, Ford Seeks to Gain Amid Rivals’ Pain and Chrysler Could Exit Chapter 11 Monday Firing Wagoner Became Necessary for CEO in Denial of Looming GM Bankruptcy The 10 largest U.S. bankruptcies The Price of Leaving […]
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